Rite Aid Leadership: Epic Fail [Seeking Alpha]
Rite Aid Corporation (RAD)
Last rite aid corporation earnings: 4/16 07:00 am
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US:NYSE Investor Relations:
riteaid.com/corporate/investor-relations
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Source: Seeking Alpha
Summary An Investing Nightmare Rite Aid ( RAD ) investors have been on a roller coaster ride for more than two years. There have been glimmers of hope and optimism for the short term trader, but long term investors have witnessed astounding value destruction based on poor management decisions and a lack of adequate corporate governance. Since October 2015 (when the original Walgreens deal was announced), the Nasdaq Composite index is up 48%. Investors could have invested by throwing darts and made unbelievable returns in a basket of stocks. On the contrary, RAD is down 87% since October 2015. A company that had sales of over $31B prior to the sale of stores to Walgreens ( WBA ), and still has sales over $22B annually has destroyed investors’ portfolios. Even compared to their peer group, the track record of RAD (and their leadership) is clearly inadequate and speaks for itself on why a change is needed. Here are charts for RAD, WBA and CVS. RAD Chart (-87% return since O
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